International Assets Investment Management LLC Grows Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

International Assets Investment Management LLC boosted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 8,801.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 261,793 shares of the utilities provider’s stock after buying an additional 258,852 shares during the period. International Assets Investment Management LLC owned approximately 0.08% of WEC Energy Group worth $22,035,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quilter Plc purchased a new stake in WEC Energy Group in the first quarter worth $234,348,000. Achmea Investment Management B.V. purchased a new stake in WEC Energy Group in the first quarter worth $27,000. First Manhattan Co. increased its stake in WEC Energy Group by 102.0% in the fourth quarter. First Manhattan Co. now owns 303 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 153 shares during the period. Valued Wealth Advisors LLC purchased a new stake in WEC Energy Group in the fourth quarter worth $28,000. Finally, VitalStone Financial LLC purchased a new stake in WEC Energy Group in the second quarter worth $35,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

WEC Energy Group Price Performance

Shares of NYSE WEC opened at $79.73 on Thursday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.40 and a current ratio of 0.55. The company has a market cap of $25.15 billion, a PE ratio of 18.89, a P/E/G ratio of 2.83 and a beta of 0.40. The business has a 50-day simple moving average of $79.67 and a two-hundred day simple moving average of $81.41. WEC Energy Group, Inc. has a fifty-two week low of $75.13 and a fifty-two week high of $99.15.

WEC Energy Group (NYSE:WEC) last issued its quarterly earnings results on Thursday, February 1st. The utilities provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.02. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.82 billion. WEC Energy Group had a return on equity of 12.17% and a net margin of 14.98%. The company’s quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter last year, the company earned $0.80 earnings per share. As a group, equities analysts expect that WEC Energy Group, Inc. will post 4.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

WEC has been the topic of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on WEC Energy Group in a research note on Wednesday. They issued a “neutral” rating and a $88.00 target price on the stock. Wells Fargo & Company dropped their price target on WEC Energy Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, February 2nd. Mizuho dropped their price target on WEC Energy Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Monday, December 18th. JPMorgan Chase & Co. downgraded WEC Energy Group from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $90.00 to $84.00 in a research report on Friday, February 2nd. Finally, Royal Bank of Canada dropped their price target on WEC Energy Group from $95.00 to $90.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 8th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, WEC Energy Group presently has an average rating of “Hold” and an average price target of $86.31.

Insider Transactions at WEC Energy Group

In other news, CEO Scott J. Lauber sold 2,830 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $78.89, for a total value of $223,258.70. Following the completion of the transaction, the chief executive officer now directly owns 43,125 shares in the company, valued at $3,402,131.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Chairman Gale E. Klappa sold 37,180 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $78.69, for a total value of $2,925,694.20. Following the completion of the transaction, the chairman now directly owns 274,782 shares in the company, valued at $21,622,595.58. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Scott J. Lauber sold 2,830 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $78.89, for a total value of $223,258.70. Following the completion of the transaction, the chief executive officer now owns 43,125 shares of the company’s stock, valued at $3,402,131.25. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.

WEC Energy Group Profile

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.